The latest price moves in bitcoin [BTC] and crypto markets in context for Jan. 29, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
After the 2008 global financial meltdown, Congress set up a round table of regulators who could wield a unique tool against the next emerging threats. The Financial Stability Oversight Council (FSOC) can tag companies with systemic-risk labels that saddle them with tremendous new restrictions, and the crypto sector has the council’s attention.
Manta Pacific rose to the third-largest Layer 2 network in just five months for two core reasons, according to co-founder Kenny Li.
Digital asset investment products saw net outflows of $500 million globally last week, though the impact of Grayscale’s GBTC subsided.
The decentralized exchange settled over $500 million in trades on Sunday, briefly becoming the biggest DEX platform.
Venture Smart Financial Holdings is also aiming for a spot-bitcoin ETF and is involved in the discussions about the stablecoin sandbox.
While bitcoin ETFs have experienced net inflows of $820 million, bitcoin whales increased holdings by about $3 billion this year, IntoTheBlock said.
UNIBOT holders are set to receive some 80% of the supply of Solana-based UNISOL through a snapshot and claim mechanism.
Bitcoin’s wave 5 impulse move has begun and could see prices top $50,000 by the end of the first quarter, 10x Research’s Markus Thielen said, having correctly predicted the recent pullback.
The much-awaited approval of spot-bitcoin exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) can give unprecedented momentum for similar regulatory approvals in and around Asia.
